Profitable trading thanks to MoneyTec forum

[mark3]

OK ...... Below are my stratergies.

Monday morning print out Economic Data Release Calendar for the coming week.

I trade EUR/USD .... USD/CHF .... GBP/USD and to a lesser extent EUR/JPY.

Look to see if any DATA releases are due out, and what time for each currency ........ THEN number ONE rule STAY OUT during the DATA releases.

TIME: I only trade between 10.30 GMT and 14.30GMT.
Covering EUR and NY OPEN.
BUT in saying that .... I monitor the Market throughout
the day, and read all News regarding the currency
Market and any related Issues that may effect it.

SYSTEMS: I use metatrader charts with Candlesticks.

Put a 5 period Exponential MA of the Open, and a 5EMA of the Close on a chart, on any timeframe. The above results were given from the 30min and 1hr chart.

I got this from 4XTraderCy.

NEXT: DOWNLOAD indicators from perky_z , you find them under
1 min scaping.

Load them into Custom indicators on metatrader.


Once loaded add the following to the chart with your EMA's

ASCT TREND1signal_no_sound
Heikin-Ashi MOD
Scaff Trend Cycle
T3 filter


Now when the MA of the Close crosses above the MA of the Open this shows a buy , and vice versa for reversing the position to Short.

Dont enter trade at this stage, when the ASCT indicator shows this confirms the MA cross, but still do not buy or sell at this stage.

When BOTH the EMA and the ASCT are in place whether for a buy or sell wait untill the cross has moved 30 pips either way and the candle has moved to the next 30 min time frame then look to the T3 filter for confirmation along with the Heikin-ASHI MOD.

You can then enter the trade, I have been using a 20 pip stop.

Once you are in profit in any currency as part of your management it is up to you to lock in your profits with a trialing stop.

If the market is trending very well I will stay in abit longer, but if not I am happy to take what is on the table.

I do not trade all 4 currencies all the time, as the signal might only be given for 2 out of the four.

And if the market is sidelined I just shut down and go to bed.

Remeber there is always tomorrow.



NOW: Signal Providers UNIGMA FX was one.
4xsignals another.


Well I hope this helps some of you or at least gives you some idea's, hope I havent missed anything.


Regards

mark3

[foroz]

Thanks Mark3

I am sure many will benefit from what you have written.

What is unwritten is the discipline to follow your method week in week out.

Forex777, you will benefit from doing what countless of us have done before and that is spend a lot of time reading different threads on moneytec and finding a method that suits your personality and your time frame.



Regards

[forex777]

Thank you to all of you for the great words of encouragement.

Hey, what do you think of this.

"The Family that Trades together, stays together!"

[Barcode]

Thanks very much for the description Mark3. Very much appreciated.

Bob

[autofx]

mark3

Looks very methodical and like you're making good
use of some of the tools out there. Good luck.

[autofx]

forex777

I'll bet there will be some family businesses springing up
around the whole forex trading industry in the next few
years. I'm sure there already are some.

The US Stock market is looking like a dead end, unless
there is some amazing revolution in industry that suddenly
turns things around.

What do you guys think of this runaway Google thing?
Looks like an echo bubble to me.

[nzbryant]

If you go with the majors the stock market is quiet. Smaller caps can give amazing gains. Look at the steel companies for example, e.g. RT and ZEUS.

[Bushman]

Sorry, but it's true. In trading as with everything else, you've got to work hard, and a mentor helps. The best I've come across is www.dayforex.com. He wrote a great book exposing the scams in the industry, and explaining why some methods will work while others can't.